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Bid Summary

Park National Bank
Chicago, IL
Closing Date: October 30, 2009



Bidder Type of Transaction Deposit Premium/(Discount) % Asset Premium/(Discount) $(000) / % SF Loss Share Tranche 1 SF Loss Share Tranche 2 SF Loss Share Tranche 3 Commercial Loss Share Tranche 1 Commercial Loss Share Tranche 2 Commercial Loss Share Tranche 3 Value Appreciation Instrument Conforming Bid Linked
Winning bid and bidder: U.S.Bank, N.A., Minneapolis ,MN
All deposit whole bank with loss share 0.00% $(150,000) 80% 95% N/A 80% 95% N/A No Yes Yes

Cover (second place): FirstMerit Bank, N.A., Akron, OH

All deposit whole bank with loss share 1.50% $(490,000) 80% 95% N/A 80% 95% N/A No Yes No
Other Bid Insured deposit whole bank with loss share 0.00% $(584,000) 80% 95% N/A 80% 95% N/A No No (1) No
Other Bid Insured deposit whole bank with loss share 0.00% $(603,300) 80% 95% N/A 80% 95% N/A No No (1) No
Other Bid Insured deposit whole bank with loss share 0.00% $(606,000) 80% 95% N/A 80% 95% N/A No No (1) No
Other Bid Insured deposit whole bank with loss share 0.00% $(628,300) 80% 95% N/A 80% 95% N/A No No (1) No
Other Bid

Insured deposit whole bank with loss share

0.00% $(633,300) 80% 95% N/A 80% 95% N/A No No (1) No


 


Notes:

- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement. If any bids were received that would have been more costly than liquidation they have been excluded from this summary.

- Because the five Other Bids were submitted by one bidder, the Other Bidder Names are omitted from this disclosure.

- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html

(1) Various non-conforming terms including exclusion of true-up, exclusion of transfer of FHLB stock, and other exclusions for all bids depending on the relative asset discount amount of each bid.


Last Updated 08/03/2011 cservicefdicdal@fdic.gov